Kole Glen Brimhall, a 27-year-old from Orem, Utah, was sentenced to over a year in prison for his role in an affinity fraud scheme that deceived around 135 investors through Alpha Influence, LLC. The fraudulent activities resulted in over $5 million being scammed from victims. U.S. District Court Judge David Sam imposed the sentence, which includes three years of supervised release and orders for Brimhall to pay nearly $6.1 million in restitution and forfeiture.
Brimhall admitted guilt on November 18, 2024, to charges related to securities fraud. Between March 2020 and June 2022, he promoted fraudulent investment contracts through Alpha Influence. He assured investors that they would receive significant passive income swiftly due to the efforts of the "Alpha Influence Team."
Acting U.S. Attorney Felice John Viti expressed the severe impact on investors' financial stability and trust, emphasizing hopes that such prosecutions will deter future frauds. Margaret Busse, Executive Director of the Utah Department of Commerce, noted the broad harm caused by this $20 million scam involving over 500 Utah residents and highlighted the importance of protecting investors.
Special Agent Mehtab Syed of the Salt Lake City FBI pointed out that many victims were working-class individuals who lost their savings while Brimhall spent lavishly on personal luxuries. The investigation was a collaborative effort between the Utah Division of Securities and the FBI Salt Lake City Field Office.
Assistant United States Attorneys Mark E. Woolf, Jennifer E. Gully, and Brian Williams led the prosecution.